HomeMy WebLinkAbout1969-11-10 17-X ORDER11-x
Introduced by Councilor Minsky, Nov. 10, 1969
;p CITY OF BANGOR
MTLE.) 1C1rbCrs. _. APP ovine Proposed ConFract for, Sale of Lana, to the Stillwater
Park Urban Renewal Proiect - Parcel No .
By the City (RAMMAl of the City of Debate.
ORDERED,
THAT WTEREAS, the Urban Renewal Authority of the City of Bangor proposes
to enter into a contract for the sale of parcel numbered 193
In the Stillwater Park Urban Renewal Project with Eremite & Valley,
Incorporated , and
WHRREAS, the said Eremite & Valley, Incorporated
hes offered to pay the am of Seven Hundred and 66/100 Dollars ($700.00)
for said parcel said price being the minimm approved price for said parte:
established by the Urban Renewal Authority and approved by the Department of
Housing and Urban Development; and
WHEREAS under the provisions of Chapter 160 of the Private and
Special Law of Maine, L95I, as extended. City Council approval of all contracts
for the sale of land within the project area to required; and
WHEREAS, the Urban Renewal Authority has filed a copy of the
proposed contract with Eremite & Valley, Inc in the office of the City Clark;
HOW, TBEREPDRE, BE IT SEEMS;
TINT the proposed contract on file with the City Clerk be AM
is hereby approved.
17-X
_WFD
1H9 40-9 F 4142
OR0ER
CI1'f CI n C'S OFFICE
ride,
IN CITY COONCIL
Nov. 10, 1969
PASSED
ContlaCt for sale of Land in Stillwater
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P ik VAR. P.�ojeCt - Pazcel No. 193
..................
In duct end filed by
...••• 7cilm
tp
STILLWATER PARR PROJECT
PRWEM NO. ME. R-4
PeRT I
CONTUCT FOR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
By and between
Dxheu Reneu l Authotit• cf the Cq of B
aad
PA T L
CONTIMS
Sectiw Page
1. Sale: Purrhose Price
2. Conveyance of Property
3. Good Faith Deposit 3
4. Time for Co®encereent and Comletiom of improvements s
S. Time for Certain Other Actions n
6. Period of Duration of Coverer_ on Use r
]. Notiees and Domande a
6. Special Provisions s
9. Modifications of Part II 3
LD. Counterparts
comma POR
SALE UP LAND PDR PRIVATE REDEVELOPHMENT
AGREEMENT, consisting of this Part I and Part 11 (Form H -6209B, 1-64)
annexed hereto and made s part hereof (which Pert I and Part IE are together
hereinafter tailed "Agreement'), made on or an of the 30th day of
October , 1964 by and between the Urban Renewal Authority of
the City of Bangor, a public body corporate (which, together with any a=
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cannot public body or officer hereafter designated by or pursuant to law, is
hereinafter called "Agency"), established pursuant to Chapter 168 of the Private
and Special Laws of the State of Maine, 1957, as amended (hereinafter called
"Urban Renewal Act") and having its office at City Bell in the City of Bangor
(hereinafter called "City"), State of Maine, and the Eremita 6 Valley
IDwrpoxate3a
corporation organised
and existing under the laws of the state of Maine
hereinafter called "Redeveloper") and having an office for the transaction
of business at 39-43 Broadlawn Drive
in the City of Brewer County of Penobscot
and State of Maine WITNESSETH:
WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the
Agency has undertaken a program for the clearance and reconstruction or
r
re-
habilitation of alum and blighted areas in the City, and in this connection
is engaged in carrying out an urban removal project known as the "Stillwater
Park Urban Renewal Project" (hereinafter called "Project") In an area (here-
inafter called "Project Area") located in the City: and
WHEREAS, the Agency has offered to sell and the Redeveloper is willing
to Purchase certain real property located in the Project Area and more partic-
ularly described in Schedule A annexed hereto and made a part hereof (which
property as so described is hereinafter tailed 'Property") and to redevelop
the Property for and is accordance with the a specified is the Declaration
Of Restrictions recorded in Penobscot Registry of Deeds, Book 2113, Page 835
and in accordance with the agreement; and
WHEREAS, the Agency believes that the redevelopment of the Property put.
event to the Agreement, and the fulfillment generally of the Agreement, are in
the vital and beat interests of the City and the health, safety, morals, and
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welfare of its residents, and in accord with the public purposes and provisions
of the applicable Federal, state, and local laws and requirements under which
the Project has been undertaken and is being assisted:
NOW, THEREFORE, in consideration of the promises and the mutual oblige-
cione of the panties hereto, each of them does hereby covenant and agree with
the other as follows:
SBC. 1. SUjE: PURCHASE PRICE.
Subject to all the targe, covenants, and conditions of the Agreement,
the Agency will sell the Property to the Redeveloper for, and the Redeveloper
will purchase the Property from the Agency and pay therefor, the amount of
Seven Hundred and 00/100 Dollars ($ '100.00 ),
het£fatm!i'ca{Fed 'Rurchaee Price", to be paid In cash or by certified check
simultaneously with the delivery of the deed conveying the Property to the
Redeveloper.
SEC. 2. CONVDYANCE OF PROPERTY.
(a) Tom of Feed. The Agency shall convey to the Redeveloper title to
the Property by Warranty Deed (hereinafter called "Deed"). Such conveyance
and title shall, in addition to the condition subsequent provided for in
Section 706 hereof, and to all other conditions, covenants, and restrictions
set forth or referred to elsewhere in the Agreement, be subject to the terms,
if any, set forth on said Schedule A, attached hereto.
(b) Time and Place for Delivery of Deed. The Agency ahalL deliver the
Geed and possession of the Property to Me Redeveloper o
19 ma
osuch earlier date as the parties hereto y mutually agree in
writing. Conveyance shall be made at the principal office of the Agency and
the Redeveloper shall accept such conveyance and pay to the Agency at such
time and place the Purchase Price.
(c) ARportiormant of Current Tama. The portion of the current taxes,
if any, on the Property which are a lien on the date of delivery of the Deed
to the Redeveloper allocable to buildings and other fmprovementy which have
been demolished or removed from the Property by the Agency shall be borne by
the Agency, and the portion of such current taxes alterable to the land shall
be apportioned between the Agency and the Redeveloper as of the date of the
delivery of the Dead. If the amount of the current taxes on the Property is
not ascertainable on such dace, the apportionment between the Agency and the
Redeveloper shall be on the basis of the amount of the moat recently a -
taioable taxes on the Property, but such apportionment shall be subject to
final adjustment within thirty (30) days after the date the actual amount of
such current taxes is ascertained.
(d) Recordation of Deed. The Redeveloper shall promptly file the
Died for recordation in the Penobscot Registry of Deads at ganger, Maine.
The Redeveloper shell pay all costa (including the cost of the Federal
documentary stamp tax on the Deed, for which stamps in the proper: amount
shall be affixed to the peed by the Redeveloper) for so recording the Deed.
-2.
(e) Further Obligations of the Agency and the Redeveloper.
See schedule A.
SM. 3. DOW FAITH DEPOSIT.
(a) Amount. The Redeveloper ban, prim to or simultaneously with the
execution of the Agreement by the Agency, delivered to the Agency a good faith
deposit0 o of cash certified check satisfactory to the Agency in the amount
of Thirty -Five and_____________________d "Dep Dollars
for
L, hereinafter calved per to
a security
far the ;the rmaroe of the obligation he the Redeveloper to be performed
prior en the return of cM1e Deposit to the application
o or its retention by
the Purchase
as liquidated c semday b or n a cordance with
on Aunt me the
Deposita Price, as the ca may check,
to accordance dap with cin an account The
DepoAgency i if cath or rust cod check, shell be deposited in an account of the
Agency in a bank or tenet company Selected by it.
(b) Interest. The Agency shall be under no obligation to pay o
earn
interest an the Deposit, but If interest In payable thereon such interest
when received by the Agency shall be promptly paid to the Redeverloper.
(c) Application to Purchase Price. Upon written request of the
Redeveloper, the amount of the Deposit, made in cash or by certified check,
shall be applied on account of the Purchase Price at the time payment of the
Purchase Price is made
(d) Retention by Agency. Upon termination of the Agreement as provided
in Section 703 hereof, the iOnposit, if cash, or bonds or aimtlar obligations of
the United States, including all interest payable thereon after such
vermination, or, if a surety bold, Che proceeds thereof, shall be retained
by the Agency as provided in Section 703 hereof.
(e) Return to Redeveloper, Upon termination of the Agreement a
provided in Section 702 hereof, the Deposit shall be returned to the Redeveloper
by the Agency as provided in Section 702 hereof. If the Agreement shell not
have been terminated an in Section 702 or 703 hereof provided, the Agency
shell return the Deposit to the Redeveloper upon receipt by the Agency of
the following:
(L) A copy of the commitment Or commitments obtained by the
Redeveloper for the mortgage Loan or loans to assist in
financing the construction of the Improvements (as defined
in Section 301 hereof), certified by the RedeveLoper to be a
true and correct copy or copies thereof;
(11).rvidence -satisfactory to the Agency that the interim mortgage
loan to assist in financing the construction of the Improvements
has been initially closed;
(111) A copy of the contract between the Redeveloper and the general
contractor for the construction of the Improvements, certified
by the Redeveloper to be a true and correct copy thereof; add
(iv) A copy of the contract bond provided by the general contractor
in connection with the aforesaid construction contract which
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bond shall be in a penal am equal to not less than ten
percent (30%) of the contract price under said construction
ontract, certified by the Redeveloper co be a true and
correct copy thereof.
SEC. 4.. I= FOR CWRffiNCEMCNt Atm CQAPLETION OF IMPROVESENTS.
The construction of the Improvements referred to in Section 301 hereof
shall be commenced in any event within six (6) months after the date of the
Deed, and, except as otherwise provld ed in the Agreement, shall be Completed
within eighteen (18) months after such Used date.
SEC. S. TIM POR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Construction Plans. The time within which
the RadeveLoper shall submit its 'Construction Plane' (as defined in Section
301 hereof) to the Agency In any event, pursuant to Section 301 hereof, shall
be no later than one hundred twenty (120) days from the date of this Agreement.
(b) Time for Submission Of Corrected Construction Plans. Except as
provided In Paragraph (C) Of this Section 5, the time within which the
Redeveloper shall submit any new or correct" Construction Plans as provided
for in Section 301 hereof shall be not later than sixty (60) days after the
date the Redeveloper receives written notice from the Agency of the Agency's
rejection of the Construction Plane referred to in the latest such notice.
(c) Maximum Time for Approved Construction Plana. In any event, the
time within which the Redeveloper shall submit Construction Plana which conform
to the requirements of Section 301 hereof and are approved by the Agency shall
be not later than ninety (90) days after the date . the Redeveloper
receives written notice From the Agency of the Agency's first rejection of
the original Construction Plans submitted to it by the Redeveloper.
(d) Time for Agency Action on Change in Construction Plans. The time
within which the Agency may reject any change in the Conatruction Plans, a
provided In Rection 302 hereat, shall be forty-five (45) days after the date
of the Agency's receipt Of notice of such change.
(e) Time for Submission of Evidence of Equity Capital and Mortgage
Financing. The time within which the Redeveloper shall submit t0 the Agency,
in any event, evidence as to equity capital and any commitment necessary for
mortgage financing, as provided in Section 303 hereof, shall be not later than
( ) days after the date of written notice t0 the
Redeveloper of approval of the Construction Plans by the Agency or, If the
Construction Plans shall be deemed to have been approved as provided in Section
301 hereof, after the expiration of thirty (30) days following the date of
receipt by the Agency of the Construction Plans so deemed approved.
SEC. 6. PERIOD OF OUMTION OF COVENANT ON USE.
The covenant pertaining to the sees of the Property, set forth in Section
40L hereof, shall remain in effect from the date of the Card until January 22,
2022, the period specified or referred to in the Declaration of Restrictions
or until such date thereafter to which it may be extended by proper amendment of
the Declaration of Restrictions, on which date, as the case may be, such
covenant shall terminate.
SEC. I. NOTICES AND DEMANDS.
A notice, demand, or
other communication under the Agreement by either
party to the other shall be sufficiently given or delivered if it is
dispatched by registered or certified mail, postage prepaid, return receipt
requested, or delivered personally, and
(1) in the case of the Redeveloper, is addressed to or delivered
personally to the Redeveloper at
39-43 Broadlawn Drive
Brewer. Maine , and
({1) in the C of the Agency, is addressed to or delivered
personally to the Agency at City Nall, Danger, Maine
or at such other address with respect to either path party
as that party may, from time to time, designate in Pricing
and forward to the other as provided in this Section.
SEC. 8. SPECIAL PROVISIMS
This conveyance is subject to all the terms and conditions of
the Declaration of Restrictions for the St-llwater Park Project,
Me. R-4, recorded in Penobscot Registry Of Deeds, Vol. 24,
Pages 1-9
SEC. 9. MODIFICATION OF PART II.
The fallowing amendments and modifications are hereby made in the terms,
covenants, and conditions forming Part II hereof -
SEC. 10. COUNTERPARTS.
The Agreement is executed in three (3) counterparts, each of which shall
constitute one and the sees instrument.
IN WITNESS WEEREOP, the Agency has caused the Agreement to be duly
executed in its name and behalf by its Executive DirectOr
and its seat to be hereunto duly affixed and
attested by its Executive Director and the
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Redeveloper has caused the Agreement to be duly executed in its nerve and behalf
by Its President and its corporate seat to be hereunto duly affixed and
attested by its Secretary, on or as of the day first above written,
pp
—,�(Redemelep/e�r)
U
Attest:
In City Council Council Order No.
Jate
Attest:
AtteeL
(secretary)
A True Copy, Attest:
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(Agency)
SCHEDULE A
Description of Property
All that certain parcel or parcels of lend Located in the City of Bangor, County
of Penobscot, State of Ma Los, more particularly described as follows:
Stillwater Park Project, Me. R-4
Parcel No. 193
Subject to the following covenants, restrictions and easements:
(if none, Be state)
Subject to telephone easements at rear of aoperty
further obligations of the Agency and the Redeveloper: